The energy fund is hereby created in the state treasury. The principal of the fund consists of money transferred to the fund from the general fund, money transferred to the fund at the end of the 2006-07 state fiscal year and at the end of each succeeding state fiscal year from money received by the Colorado energy office, money received pursuant to the federal "American Recovery and Reinvestment Act of 2009", Pub.L. 111-5, or any amendments thereto, or from revenue contracts, court settlement funds, supplemental environmental program funds, repayment or return of funds from eligible public depositories, and gifts, grants, and donations, and any other money received by the Colorado energy office. Interest and income earned on the deposit and investment of money in the energy fund are credited to the fund. Money in the fund at the end of any state fiscal year remains in the fund and may not be credited to the state general fund or any other fund. Money in the fund may not be transferred to the innovative energy fund created in section 24-38.5-102.5.
(II) and (III) Repealed.
(b) For purposes of this section, "Colorado energy office" means the Colorado energy office created in section 24-38.5-101.
(2) (a) All money in the energy fund is continuously appropriated to the Colorado energy office for the purposes of advancing energy efficiency and renewable energy throughout the state.
(b) The Colorado energy office may expend money from the energy fund:
To attract renewable energy industry investment in the state;
To assist in technology transfer into the marketplace for newly developed energyefficiency and renewable energy technologies;
To provide market incentives for the purchase and distribution of energy efficientand renewable energy products;
To assist in the implementation of energy efficiency projects throughout the state;
To aid governmental agencies in energy efficiency government initiatives;
To facilitate widespread implementation of renewable energy technologies;
To educate the general public on energy issues and opportunities; and
In any other manner that serves the purposes of advancing energy efficiency andrenewable energy throughout the state.
(c) (I) Subject to the provisions of subparagraph (II) of this paragraph (c), the moneys in the clean and renewable energy fund may also be used by the Colorado energy office to make grants or loans to persons, as defined in section 2-4-401 (8), C.R.S., for use in carrying out the purposes of this section. The Colorado energy office shall consider the following information in determining whether to make a grant or loan:
The amount of the grant or loan;
The quantified impact on energy demand or amount of clean energy production generated as a result of the grant or loan;
The potential economic impact of the grant or loan; and(D) The public benefits expected to result from the grant or loan.
(II) The Colorado energy office may establish terms and conditions for making grants or loans pursuant to this section and in accordance with the objectives of the office as set forth in section 24-38.5-102.
Source: L. 2012: Entire section added, (HB 12-1315), ch. 224, p. 965, § 18, effective July 1. L. 2018: (1)(a)(I), (2)(a), and (2)(b) amended, (SB 18-003), ch. 359, p. 2133, § 6, effective June 1.
Editor's note: (1) This section is similar to former § 24-75-1201 as it existed prior to 2012.
Subsection (1)(a)(II)(B) provided for the repeal of subsection (1)(a)(II), effective January 1, 2013. (See L. 2012, p. 965.)
Subsection (1)(a)(III)(B) provided for the repeal of subsection (1)(a)(III), effectiveJanuary 1, 2017. (See L. 2012, p. 965.)